According to data issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), local gold prices fell for the fourth consecutive session on Thursday as a result of a global sell-off caused by the dollar. The price per tola (11.7 grams) decreased by Rs2,500 to Rs300,500.
Similarly, 10 grams of gold cost Rs257,639, a decrease of Rs2,143.
In the meantime, the 10-gram rate decreased by Rs55 to Rs2,786 while the price of silver per tola fell by Rs64 to Rs3,250.
As the dollar gained momentum and the market anticipated an inflation report later in the day that would shed light on the Federal Reserve’s policy direction, international gold markets continued their losing skid on Friday, heading toward their first weekly loss in nine months.
